Petrodollars are U.S. dollars paid to an oil-exporting country in exchange for export of crude oil, fuel and other energy-related products. The U.S. dollar is the international currency of choice for oil exports, due in large part to the strength and trading value of the dollar, and the ubiquitous availability of the dollar in global markets. This means that oil-producing countries that don't have their own strong currency can trade in U.S. dollars, allowing them to convert the currency into other currencies quickly, easily and safely.

Petrodollars are often seen as one of the primary sources of income for OPEC member and other oil exporting countries, as it is often their only source of export revenue. Iraq and Nigeria, for instance, receive the majority of their revenue from selling oil. Additionally, petrodollars are also important for stabilizing oil-exporting economies, helping to fund development and social services.

It is clear that petrodollars are an important part of the global economy, as oil exporting countries depend heavily on them to provide essential resources and revenue. Unfortunately, this dependence on petrodollars can result in abuses of human rights, since some oil exporters have used the wealth derived from petrodollars to oppress and marginalize their citizens. To address this, some oil exporters have tried to diversify their revenue sources and suggested that they may accept payments in other currencies in order to reduce the potential impact of petrodollar exploitation.

Overall, petrodollars play an important role in the global economy, and understanding them can help us to understand the complex relationships between oil exporters and the world, and the potential for misuse of petrodollars. Despite this, petrodollars remain a critical source of revenue for many oil producing countries, and as such, deserve our continued attention.